BUSINESS
Locally Constructed Refineries Should Not Be Called “Illegal” N54.66bn On Turnaround Maintenance Fraudulent — Udensi
Interpol Systems Consultant and security expert, Sir Chikwe Udensi has decried the amount being spent by the federal government on subsidizing petroleum products in the country, put at N1.593trn from Jan to June, 2022. He also said the estimated N54.66bn spent on refineries rehabilitation in the first and second quarters in 2022 is unnecessary. Speaking on Wednesday on Love FM's current...
All Debts Incurred By Buhari Justifiable — Fashola
The Minister of Works and Housing, Babatunde Fashola, has said that the Buhari administration has justified all its debts by constructing various infrastructures across the nation. Fashola stated this at the closing ceremony of the 28th National Council of Works meeting held in Kano on Thursday. He said the ongoing projects across the country had justified the debts, especially when compared...
Energy Transition: Vice President Osinbajo Launches Roadmap, Urges Strategic Plan In Africa
Nigeria's Vice-president, Yemi Osinbajo (SAN) has said it requires a peculiar transition plan in the African continent to fill the energy gap currently in existence, urging that the pathways and the action should be decisive and urgent. “For Africa, the problem of energy poverty is as important as our climate ambitions. Energy use is crucial for almost every conceivable aspect...
We Didn’t Increase Aviation Charges — FG
The Nigerian Civil Aviation Authority (NCAA) and the Federal Airports Authority of Nigeria (FAAN) yesterday denied an increase in charges payable by stakeholders in the sector. FAAN specifically debunked the rumour that it had increased the landing and parking charges payable by foreign and domestic airlines. The Director General of NCAA, Capt Musa Nuhu, and Managing Director of FAAN, Capt Rabiu...
Buhari Vows To Expose Big Names Behind Oil Theft
President Muhammadu Buhari has said his government would soon reveal the identities of important personalities behind oil theft in the country. Senior Special Assistant to the President on Media and Publicity, Garba Shehu who spoke on the president's behalf said that as part of efforts to rid the country’s economy from sabotage of greedy few, security operatives had raided locations...
EEDC Apologises To Customers Over Power Disruption As Strike Ends
The Enugu Electricity Distribution Company, EEDC has apologised to its customers following a power outage on Wednesday after electricity workers withdrew their services. The company in a release signed by its Head, Corporate Communications, Emeka Ezeh said the withdrawal of service and strike was suspended after the National Union of Electricity Employees, NUEE, Ministers of Labour, and Power reached a...
200 Beneficiaries Emerge As Rep. Onuigbo Flags Off Empowerment Scheme (Photos)
In a bid to curb unemployment in his constituency the Honourable member representing Ikwuano/Umuahia Federal Constituency of Abia State, Hon. Sam Onuigbo on Thursday flagged off empowerment scheme for the people of the constituency in a bid to reduce the level of unemployment. The empowerment scheme is in collaboration with National Institute for Cultural Orientation, NICO. The five-day Strategic Training/Empowerment...
Emirates Airlines Suspends Air Flights To Nigeria
There are indications that the failure of Emirates Airlines to repatriate its trapped ticket sales fund in Nigeria back to its home country in the United Arab Emirates (UAE) may have led to the carrier’s decision to stop all flights in and out of the country. The airline in a statement on Thursday morning said that it would suspend flights...
FG Announces Date For Presentation Of 2023 Budget By President Buhari
Barring any change, President Muhammadu Buhari is expected to present the 2023 appropriation to the National Assembly in September. The Director General, Budget Office of the Federation, Ben Akabueze, disclosed this on Monday in Abuja at training on budget preparation using the Government Integrated Financial Management Information System. The two-day nationwide training on budget preparation is organised for over four thousand...
Nigeria Now Owing World Bank $660m — Data
The total debt owed to the World Bank Group by Nigeria rose by $660m in the first six months of 2022, the Punch has learnt. This is according to data from both the Debt Management Office and the financial statements of the World Bank. According to data from the DMO, Nigeria debt to the Washington-based bank was $12.38 as of December...
